WOW Air suspends all flights as it finalizes equity raise with investors

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Reykjavik - WOW Air has suspended its flight operations today. The airline said that it was a temporary measure as it was finalizing equity raise with some investors.

The low-cost carrier said that the flights have not been canceled but delayed. All Wow Air aircraft are currently on the ground at the airports in North America as well as Copenhagen with return flights scheduled overnight.

Since mid-November, the financially troubled carrier has been looking for an investor. After the talks with the rival Icelandair and the U.S. investor group Indigo Partners collapsed, the situation was worsened.

Two Airbus A321 of the carrier, TF-PRO, and TF-NOW were confiscated by the leasing company Bocomm at Montréal Trudeau Airport on March 24 and 25.

The Icelandic low-cost currently operates one A320neo, two A321neo, and eight A321-200. At the end of 2018, the airline returned all its three Airbus A330-300 and two A320-200 to their owners and sold its four Airbus A320 to Air Canada to generate cash flow.